Company Liquidation

Fashionfast in liquidation

noreply@blogger.com (Robert Moore) — Thu, 02 Feb 2012 10:19:00 +0000

Fashionfast LLP the Stoke-on-Trent based fashion logistics company has gone into liquidation after being in administration so that the creditors could receive a dividend. The firm had been established for 40 years and operated 25 Trucks. The administrator, Begbies Traynor, said that the firm had suffered some bad debts most particularly when Woolworths went into administration in 2009.
The owners of the business put in almost £500,000 of their own money but high fuel prices and other pressures forced the business into insolvency.

A Begbies Traynor spokesman said “It is anticipated that unsecured creditors will receive a modest dividend payment. In order to do this the joint administrators shall exit the administration into creditors’ voluntary liquidation where they will have the powers to make a distribution.”

Radar Homes Management Company in Liquidation

noreply@blogger.com (Robert Moore) — Mon, 30 Jan 2012 10:07:00 +0000

Radar Homes continues to operate but the company that set it up has gone into liquidation. Home Swap Ltd was a company that provided centralised management services to various regional Radar Homes companies. These Radar Homes portals continue to market properties for sale.

The plan was for different joint venture Radar Homes companies in different regions, with estate agents paying £100 to become subscribing shareholders and then paying £100 per month plus VAT. Initially take up was good but the lack of renewal by subscribers in the regions meant that the parent operating company was not viable. As such it has had to go into liquidation.

Thamesteel in administration

noreply@blogger.com (Robert Moore) — Thu, 26 Jan 2012 10:03:00 +0000

Thamesteel, the Kent-based steel producer, is in administration today and Mazars have been appointed as administrators. The plant has a turnover of £100m and its plant is in Sheerness. The company can produce more than 800,000 tonnes of steel billet a year and produces other steel long products such as wire road and bar. These products are mainly used in construction and there has been a slowdown in the demand in the UK and Europe. No statement has been released yet by the company or its administrators.

The 400 workers are expected to be updated today on the future of the plant.

Thamesteel was bought by Saudi Arabian company Al-Tuwairqi Group in 2002.

If you are an employee of the business then please take a look at our pages on your rights as an employee of a business in administration.

Browns restaurants in liquidation

noreply@blogger.com (Robert Moore) — Wed, 25 Jan 2012 15:34:00 +0000

Brown's restaurants, based in Worcester, have confirmed that they have gone into liquidation with the loss of 60 jobs.

A message on the website of each restaurant reads: "Closed until further notice."

Browns confirmed that any deposits made for reservations would not be lost and staff would be paid. Whether they are paid by the restaurant or have to claim compensation from the liquidator is not clear

Another Worcester restaurant, Bindles, has contacted the staff to offer a limited number of positions at their establishment.

Victoria Hamilton-Jones said: "You have to offer help where you can. We're all in the same industry and we just wanted to show our support."

K-Lift Ltd in Liquidation

noreply@blogger.com (Robert Moore) — Mon, 16 Jan 2012 09:46:00 +0000

K-Lift Ltd, the specialist crane rental company, appointed a liquidator on Thursday according to industry reports. The creditors meeting was held on the 6th January and :Vincent A Simmons, of Bennett Verby, 7 St Petersgate, Stockport, Cheshire, SK1 1EB was appointed liquidator.

The company ran a fleet of mobile self-erecting tower cranes is based in Denton, Manchester. It is understood that the business continues to trade as K Lift Crane Hire and their website is still operational. It is possible that the assets of the company have been sold. Enquiries should be made with the liquidators However, it is not usually the case that the company continues to use the same name. This is in breach of section 216 of the insolvency act.

With a voluntary liquidation there is not usually much left over for the creditors.

Sea France in Liquidation

noreply@blogger.com (Robert Moore) — Fri, 13 Jan 2012 14:52:00 +0000

The courts have finally ruled that Sea France is to go into liquidation as the bailout of 200 Euros was deemed illegal. This has meant that hundred of jobs will have to go on both sides of the Channel. A cooperative of french workers tried to buy the business but the courts did not believe it had a good chance of survival.

One upshot of this is that the costs of a Ferry crossing over the channel may increase which may inturn help the Eurostar or Eurotunnel.

Snibor Limited in Liquidation

noreply@blogger.com (Robert Moore) — Fri, 13 Jan 2012 14:17:00 +0000

Snibor Limited, the construction and building maintenance business based at Brickfields Business Park in Gillingham, has gone into liquidation following its closure in December with debts of approximately than £1.2 million.
According to the liquidation report produced by Laurence Russell of Taunton-based chartered accountants Albert Goodman, employees were owed more than £26,000. The assets were expected to be worth about £250,000. This leaves a shortfall of more than £900,000 with creditors including contractors and suppliers across the South West.

Snibor was launched by managing director Andrew Robins in 2001. The business provided architectural, construction and building maintenance services to customers in the private and public sector.

Enquiries from creditors should be directed to Albert Goodman chartered accountants who can be contacted on (01823) 257 319

We can liquidate your company

noreply@blogger.com (Robert Moore) — Fri, 16 Dec 2011 15:15:00 +0000

We can liquidate your company wherever you are in the UK.
We will liase with the creditors, hold a meeting, take over all the companies books and records and turn all remaining assets into cash. If the company is no longer viable then liquidation is the best course of action. This will enable the firms affairs to be brought to an orderly close and should lower the risk of any personal liability.

We have offices in Edinburgh, Bristol, Nottingham, Newcastle and Gateshead, Birmingham, London, Berwick upon Tweed.

Liquidation Fees

noreply@blogger.com (Robert Moore) — Fri, 09 Dec 2011 16:36:00 +0000

Some business owners are under the impression that the assets of a company belong to them when in fact they belong to the company. This means that when a business enters liquidation the assets are "liquidated" and the proceeds, less costs, are paid over to the creditors. As such then the level of fees has an impact on the outcome for the creditors not the financial situation of the company director.
A good practitioner acts on behalf of the creditors and will ensure that the assets are realised for the best possible price and pressure is taken off the directors of the company as expediently as possible.

So cheapest is not necessarily the best! Also there may be fees to pay for corporate advice before an appointment. Have a look at our page on Cheap Liquidation

Basildon Golf Centre Liquidation

noreply@blogger.com (Robert Moore) — Wed, 16 Nov 2011 13:24:00 +0000

Basildon Golf Centre's previous operator has gone into liquidation owing £185,000 – including £55,000 to HMRC.

Basidon Council is also owed £26,000 in business rates. Controversially, The firm Jack Barker Group was brought in by the council to run the centre despite showing large losses for the group as a whole back in 2007 but then closed in April of this year

The course is still open with current operator, Warehouse Sports UK, running the venue. Liquidators will now investigate the company’s accounts for any assets which could be sold to repay creditors, including the council.

However, it is understood the company has no assets.

Number of Compulsory Liquidations Down

noreply@blogger.com (Robert Moore) — Fri, 04 Nov 2011 12:02:00 +0000

The latest statistics from the insolvency service show the number of companies going into compulsory liquidation is falling. However, there is a rise in the number of companies going down the voluntary liquidation route.

Why the discrepancy? the number of winding up petitions being issued is down and HMRC have been taking a less agressive stance. However, the prevaling mood in the economy may have persuaded company directors that they might as well give up and put the company into liquidation voluntarily.

Lee Mill Furnishings in Liquidation

noreply@blogger.com (Robert Moore) — Mon, 17 Oct 2011 09:16:00 +0000

Lee Mill Furnishings the specialist furniture and retailer has been put into liquidation.

The firm operated out of Bacup in 7,000 sq ft of space on Newchurch Road. The firm had been established for over 25 years. Sales declined in 2010 and through to 2011 so the company came under increasing pressue.

Kevin Lucas of insolvency firm Lucas Johnson has been appointed as liquidator of the company.

He said: “It’s a shame to see such a long established business being forced to close because of the unbelievably tough economic climate facing retailers at the moment.

Southern Cross to go into liquidation

noreply@blogger.com (Robert Moore) — Thu, 29 Sep 2011 09:31:00 +0000

Southern Cross is in the process of winding down its operations and enter liquidation. Many of the care homes have been taken back by their landlords so there have been very few residents who have had to move. However a number of these are yet to find operators. NHP the largest has taken on all the back office functions of Southern Cross.

Southern Cross continues to defer rent payments to landlords so that it can pay its lenders. It admitted that once it has paid back as much as it can to its secured lenders then there will be no money left for anyone else..

The board hopes to have disposed of 19 freehold and 11 leasehold properties by next month, after which the company will be wound down and enter liquidation.

Loft Shop is not in liquidation yet

noreply@blogger.com (Robert Moore) — Thu, 01 Sep 2011 09:45:00 +0000

Following on from earlier reports, The Loft Shop is not yet in liquidation. The business is however in administration and liquidation may follow if the business is not sold. It appears that some of the assets of the company, ie the website were transferred to a new company Kaysted ltd which is using some of the goodwill.

There is an ongoing dispute with the previous employees of the firm who feel they were dismissed unfairly as liquidation was given as a reason for the firm to make redundancies. We will keep an eye on the developments.

Wilding Photographic Ltd in Liquidation

noreply@blogger.com (Robert Moore) — Mon, 11 Jul 2011 11:18:00 +0000

According to Amateur Photographer Wilding Photographic Ltd, which runs 7 camera stores in the North West, has been put into liquidation with the loss of 24 jobs,

The firm today blamed 'crippling' rents at several of the stores as a key factor in the demise of the 63-year-old business. Amateur Photographer talked to Chris Rea, one of the directors, and he said that the firm had suffered from high rents and had gone into voluntary liquidation

Lea added that 24 staff across the group have been made redundant, though five will be re-employed.

Customers who are concerned about product orders, repairs and processing are urged to call Wildings on 01257 422955.

The firm's liquidators, who are based in Manchester, are due to release an official statement later today.

HotelConnect in Liquidation

noreply@blogger.com (Robert Moore) — Thu, 30 Jun 2011 10:31:00 +0000

HotelConnect ceased trading on the 28th June and it is placing the company into liquidation. Update August: We are NOT the liquidators but will post who they are when we know.

Abta said customers who bought the room direct from HotelConnect should check with the hotel about their booking and suggested it was possible they might have to pay again.

They could also contact Abta's claims department on 0845 3306414 or on abtaclaims@huntswood.com.

There has been no doubt that trading has been tough on these "bed banks". HotelConnect was used by travel agencies that needed to book hotels on behalf of customers and this has been seen to be a shrinking market. Consumers have felt more confident in handling hotel bookings themselves and not needing an agency .

It is another sign of how the internet is changing the way people shop and interact with service and retail based businesses.

Cube 24/7 enters liquidation

noreply@blogger.com (Robert Moore) — Thu, 16 Jun 2011 09:42:00 +0000

Cube 24/7 has gone into liquidation. This follows the problems at Mesh and OP3 who went in to administration last week. The liquidator, PR Booth & Co has said that anyone who purchased a computer is unlikely to get a refund.

If you need anymore information then call Phil Booth or Neil Marshall of PR Booth & Co (phone 01924 263777).

Finch goes into liquidation

noreply@blogger.com (Robert Moore) — Thu, 09 Jun 2011 08:25:00 +0000

Finch, one of Liverpool's largest advertising and digital agency has gone into liquidation.

Tim Crutchley, the founder and managing director, told the Liverpool Daily Post: “We were getting work from clients on a project-by-project basis rather than retainers – many now have their own in-house marketing departments.

“Add to that cutbacks in the public sector and it meant that we eventually couldn’t sustain the resource that we had.”

It is understood that the firm employed 8 staff. At its peak, Finch employed 28 people and had many large clients including HBoS and De Vere Hotels.

We are finding that many banks are beginning to put pressure on businesses in the service sector as work in progress is not as good as expected

Homecall plus in liquidation

noreply@blogger.com (Robert Moore) — Mon, 23 May 2011 08:43:00 +0000

Homecall plus went into liquidation last week as the home emergency insurance provider came under increasing pressure. A creditor had filed a winding up petition and as they were unable to pay the debt the company went into liquidation.

Brit Insurance is underwriting all policies held before 3rd December 2011, but any since are unlikely to be offering any sort of cover.

Hunstrete House in Liquidation

noreply@blogger.com (Robert Moore) — Fri, 06 May 2011 09:19:00 +0000

Bath Hotel, Hunstrete House, has gone into liquidation after the administrators of Von Essen Hotels cancelled the licensing with its operator.

According to reports, the business had been making a loss for many years and had only been able to continue operating with the support of Von Essen.

All the hotel staff have been informed of the liquidation. Von Essen is hoping to find alternative employment for them at other hotels.

Geko Direct in Liquidation

noreply@blogger.com (Robert Moore) — Fri, 06 May 2011 08:32:00 +0000

Telford-based Orange b2b dealer Geko Direct has gone into liquidation with the loss of over 100 jobs. The company has been in business for 10 years and had 30,000 customers. It had three sites in Birmingham, Stoke and Telford. The firm said that it had to close down some of its operations in other parts of the country such as Sunderland

Once a business has gone into liquidation all contracts are ceased and the remaining assets are effectively turned into cash.

If you need any liquidation advice then please get in touch as we can help.

Cre8 publishing in Liquidation

noreply@blogger.com (Robert Moore) — Tue, 03 May 2011 11:35:00 +0000

West Ham United, Arsenal and Tottenham Hotspur have lost money following the liquidation of Cre8 publishing. Arsenal are owed £270,000 according to the liquidation documents, Spurs £42,000, Rangers £500,000, Celtic £400,000 and relegation threatened West Ham £103,000.

Clydesdale Scottish Premier League Old Firm sides Rangers and Celtic both cancelled their contracts with the company due to unpaid monies.

Leed Petroleum in liquidation

noreply@blogger.com (Robert Moore) — Thu, 28 Apr 2011 08:35:00 +0000

Leed Petroleum Calls In The Liquidators

Leed Petroleum, the AIM-quoted company, which has had production and funding problems at its Mexico fields and following the company's failure to reach a settlement with its banker UniCredit Bank has sought to go into liquidation. The appointment of Baker Tilly as liquidator is expected on the 5th May.

Home Living Online Liquidation

noreply@blogger.com (Robert Moore) — Tue, 12 Apr 2011 13:35:00 +0000

Home furniture retailer Home Living Online, has gone into liquidation following the appointment of Asher Miller at David Ruben & Partners

The business was set up in 2007 selling online. It expaned its operations to two stores, based in Poole and Southampton. However these were closed down due to cashflow problems. All nine employees were made redundant on appointment and the liquidator is trying to establish ownership of the stock in the warehouse.

A statement from David Rubin & Partners said it is uncertain how much dividends will be paid to creditors, at this stage.

Fotopic Owner in Liquidation

noreply@blogger.com (Robert Moore) — Thu, 31 Mar 2011 15:04:00 +0000

According to Amateur Photographer The owner of Fotopic.net Snappy Design Ltd is to go into liquidation but no notices have been publised to date.

In a statement on behalf of Snappy Designs Ltd, Stephen Dyer said: 'The company has ceased trading due to an unexpected, significant decrease in revenue and I apologise that our efforts to recover from this have not been successful.'

If the business does go into liquidation it will be hard for people to be able to recover photos as the computers that their pictures were stored on were most probably rented by the company.